VIBE Cybersecurity International LLC and LALA World announced a “joint development project designed to fully secure LALA World’s financial-exchange platform and its associated digital wallet.”

“By adding VIBE to its list of strategic partners, LALA World is sending a strong message to the Initial Coin Offering [ICO] investment community that world-class security is tremendously important, and needs to be embedded at ground level,” the company said.

“Based in Singapore, LALA World has established partnerships with governments, non-government organizations and local communities, creating an ecosystem that is enabling financial inclusion for everyone, everywhere, through smart integration of biometrics, distributed blockchain ledger technology and new-age security.

“VIBE – an acronym for Verifiable Identity-Based Encryption – is headquartered in Bermuda, and has its technical center of excellence in Singapore. The company’s patented technology eliminates the need for PKI, and easily accommodates the massive scale associated with blockchain and other projects, including anything IoT.”

Sankalp Shangari, LALA World’s founder and CEO stated, “Our vision to provide financial freedom and accessibility for the world’s over 2 billion unbanked and underserved has, at its foundation, our commitment to technological excellence and forward-looking cryptography that eliminates the threat of security breaches.

“Thanks to our partnership with VIBE, our current and prospective ICO investors can embrace our technology and its promise, armed with the knowledge that we are leading with security – not trying to apply it after the fact.”

Bill Montgomery, VIBE’s CEO, noted, “The entire VIBE team is delighted by the opportunity to render secure the LALA World digital platform and wallet which is so critical to this exciting company’s mission to provide financial services to the world’s unbanked.

“Given the nature of our business, we are acutely aware of the tens of millions of dollars that have been stolen from ICO-funded companies, worldwide. I applaud LALA World for taking the steps necessary to eliminate any such possibility. It speaks to its leader’s superior customer focus.”

Shangari added, “The certificate-less nature of VIBE’s patented technology not only eliminates the threat of man-in-the-middle attacks – as there are no certificates to intercept – its elegant authentication and key management capabilities make it highly scalable, and very easy to manage.”